- Crypto investment products centered around XRP, Stellar (XLM), and Solana (SOL) experienced considerable inflows in July, raising their Assets Under Management (AUM).
- The United States continues to lead the pack in terms of AUM for these crypto investment products, with recent ETF filings by financial giants contributing to the growth.
July has proven to be a turning point for cryptocurrencies like XRP, Stellar Lumens (XLM), and Solana (SOL), as investment products focused on these altcoins saw an upsurge of capital inflows. This increased interest culminated in a significant augmentation in their Assets Under Management (AUM), hinting at a potential change in the direction of the investment winds.
Based on the freshly published ‘Digital Asset Management Review’ report by CCData, these altcoins outperformed and steered the total AUM of these investment products towards a moderate growth of 1.14%, elevating the figure to $33.7 billion. The report further highlighted that the AUM for these products has surged by an impressive 71.5% in the current year alone.
Stellar, XRP, Solana Witness AUM Growth
Grayscale’s XLM product, boasting a premium surpassing 330%, has notably assisted in driving Stellar-focused products to a 62.7% increment, amassing $17.3 million in AUM. Concurrently, a favourable court ruling for Ripple and XRP, coupled with SOL’s promising trajectory, has catalysed a significant AUM expansion for investment products centred around XRP and SOL. XRP-focused products witnessed a 33.2% surge, enhancing its AUM to a striking $65.7 million, while SOL-centric products rose by 55.7%, reaching an AUM of $87.8 million.
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The United States is maintaining its reigning position in terms of AUM for these crypto investment products. The recent flurry of Bitcoin exchange-traded fund (ETF) filings by financial powerhouses like BlackRock and Fidelity have contributed considerably to the growth of these products within the US borders.
According to CCData’s report, the escalating interest in these products has helped assuage regulatory concerns surrounding the crypto industry, a previously significant market deterrent. The report elaborates that the United States now boasts a remarkable $26.3 billion in AUM, commanding a 78% market share. This suggests an undeniable shift in the investment landscape, indicating a potential rise in the stature of these altcoins in the world of crypto investments.
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